Is the "new" ship just a retool? I thought they'd made an all new X-Wing and it was a little smaller than before? I could be wrong...

I think the general consensus was the Trench Run X-Wing had the old (floppy) wings with a newly tooled fuselage that included - fold out torpedo launcher, front hatch for landing gear, storage compartment, slightly shorter length, new cockpit panel, and the targeting computer. Lots of tweaks and slightly smaller. Here's a good overview at JTA.

I always kinda regretted not getting the Trench Run set to get that Red 5 X-Wing but $100+ was just too much since I only wanted the Xwing. I'll probably pick this one up now that I know it's the trench run x-wing, but I'll probably wait until TRU has a BOGO sale going on in order to save some cash off that $60 price. Agree with everyone one else that if it came with Biggs/Astromech $60 would be a lot easier to take.